Global Voice Group (GVG) has introduced a new digital platform to verify the compliance of transactions.
Dubbed X-Stream, the solution covers digital channels such as remittances, mobile money, and other cashless transactions, among others.
The launch of the solution is said to have been triggered by the increasing adoption of electronic payments across the globe.
GVG noted: “Digitalisation is reshaping the economy everywhere, prompting Banking and Financial Authorities to adapt and digitalise their own methods of overseeing and regulating the whole transaction ecosystem.
“Even emerging countries with large unbanked populations are witnessing an important shift from cash to cashless transactions, notably through the fast-growing penetration of mobile money services.”
With X-Stream, central banks, financial intelligence units and other authorities can secure real-time transaction metrics and conduct detailed analyses.
The solution also uses criminal and financial databases to background check transactions, enabling the automated detection of potentially fraudulent transactions.
Commenting on the new proposition, GVG CEO James Claude said: “In many emerging countries, including those where GVG operates, governments and banking authorities strive to promote a fair, compliant and inclusive digital ecosystem.
“They want to be very proactive about it. With X-Stream, they can now reach this high level of proactivity and visibility.”